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Everest Pays $65 Million Upfront in $835 Million Agreement for Greater China Rights to Immunomedics ADC

05:13 EDT 30 Apr 2019 | ChinaBio Today

Everest Medicines II of Shanghai, a company backed by C-Bridge Capital, agreed to pay up to $835 million in upfront and milestone payments for Greater China rights to an Immunomedics antibody-drug conjugate (ADC). Sacituzumab govitecan, a clinical stage candidate, is aimed at solid tumor cancers. Everest will make a $65 million upfront payment and will pay an additional $60 million if sacituzumab govitecan is approved in the US to treat triple-negative breast cancer. Everest Medicines said the agreement is a record-setting deal for Greater China rights to a single agent. More details....

Stock Symbol: (NSDQ: IMMU)

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